BancFirst (NASDAQ:BANF) Reaches New 1-Year High – What’s Next?

BancFirst Co. (NASDAQ:BANF)’s share price hit a new 52-week high during mid-day trading on Monday . The company traded as high as $130.04 and last traded at $130.04, with a volume of 3300 shares changing hands. The stock had previously closed at $126.28.

Wall Street Analyst Weigh In

BANF has been the subject of a number of research reports. StockNews.com upgraded shares of BancFirst from a “sell” rating to a “hold” rating in a research report on Thursday, November 7th. DA Davidson upped their target price on BancFirst from $104.00 to $110.00 and gave the company a “neutral” rating in a report on Monday, October 21st.

BancFirst Price Performance

The company has a market capitalization of $4.28 billion, a price-to-earnings ratio of 20.30 and a beta of 1.02. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.05. The company’s 50 day simple moving average is $111.42 and its 200-day simple moving average is $100.65.

BancFirst (NASDAQ:BANF) last released its earnings results on Thursday, October 17th. The bank reported $1.75 EPS for the quarter, topping the consensus estimate of $1.57 by $0.18. BancFirst had a net margin of 23.52% and a return on equity of 13.92%. The firm had revenue of $163.67 million during the quarter, compared to analysts’ expectations of $156.70 million. On average, equities research analysts predict that BancFirst Co. will post 6.37 earnings per share for the current fiscal year.

Insider Activity at BancFirst

In other BancFirst news, EVP Dennis Jay Hannah sold 10,543 shares of the stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $126.58, for a total transaction of $1,334,532.94. Following the transaction, the executive vice president now owns 1,564 shares of the company’s stock, valued at $197,971.12. This trade represents a 87.08 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director David E. Rainbolt sold 1,391 shares of the business’s stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $105.01, for a total transaction of $146,068.91. Following the sale, the director now directly owns 215,024 shares of the company’s stock, valued at $22,579,670.24. This represents a 0.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 181,714 shares of company stock worth $20,915,712. 33.89% of the stock is currently owned by insiders.

Hedge Funds Weigh In On BancFirst

Large investors have recently modified their holdings of the company. BancFirst Trust & Investment Management increased its position in BancFirst by 50.8% during the 3rd quarter. BancFirst Trust & Investment Management now owns 1,702,082 shares of the bank’s stock worth $177,936,000 after purchasing an additional 573,224 shares in the last quarter. International Assets Investment Management LLC purchased a new position in shares of BancFirst in the 3rd quarter valued at $112,370,000. State Street Corp raised its stake in shares of BancFirst by 12.4% in the 3rd quarter. State Street Corp now owns 872,101 shares of the bank’s stock valued at $92,187,000 after acquiring an additional 96,483 shares during the period. Geode Capital Management LLC lifted its holdings in shares of BancFirst by 13.7% during the 3rd quarter. Geode Capital Management LLC now owns 482,785 shares of the bank’s stock valued at $50,823,000 after acquiring an additional 58,016 shares in the last quarter. Finally, Millennium Management LLC boosted its position in BancFirst by 499.6% during the 2nd quarter. Millennium Management LLC now owns 57,614 shares of the bank’s stock worth $5,053,000 after purchasing an additional 48,006 shares during the period. 51.72% of the stock is currently owned by hedge funds and other institutional investors.

About BancFirst

BancFirst Corporation operates as the bank holding company for BancFirst that provides a range of commercial banking services to retail customers, and small to medium-sized businesses. The company operates through BancFirst Metropolitan Banks, BancFirst Community Banks, Pegasus, Worthington, and Other Financial Services segments.